By 2030, EV adoption in the US could range from 20% to 55% and government regulation may be the most significant change agent in this development, according to BofA Securities.
The EV industry represents 4%-7% of the GDP in most countries and contributes to employment, directly and indirectly, and "functions as a key enabler of societal development," analyst John Murphy said in the note. If these “nationalistic interests” dominate, EVs will attract government oversight and interjection, he added.
